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Steven Mnuchin Says Global Powers Must Prevent Cryptocurrencies From Becoming Another 'Swiss Bank Account'
U.S. Treasury Secretary Steven Mnuchin has warned against cryptocurrencies becoming akin to a digital Swiss bank account that allows people to anonymously stash money, Bloomberg reports. Mnuchin issued his warning while speaking at the Economic Club of Washington on Friday, according to Bloomberg. Under U.S. law, “if you have a wallet to own bitcoins, that company has the same obligation
10 Ways AI Has Made Your Life Easier, Via Your Smartphone
One of the fastest growing areas of interest throughout 2017 was artificial intelligence and 2018 will likely see new AI-themed products hit the market. What You Need To Know Many consumers aren't aware of the extent to which artificial intelligence and machine learning technologies already help us in our daily lives, Statista said. In fact, Deloitte's Global Mobile Consumer Survey
Low Spreads + Low Inflation = Low Volatility
Russ discusses why the real economy and financial market conditions offer more clues about volatility than political noise. During the first four days of 2018, U.S. stocks rose 2.50% and the VIX Index, a measure of implied volatility, never closed above 10, very low by historical standards. For years, investors interpreted extreme low volatility readings as a warning sign; lately
Video: Jess Lee Partner at Sequoia Capital Talks @Google
Jess Lee is a partner at Sequoia Capital. Previously, she held leadership positions at Google and Polyvore. While at Google, Jess was a product manager for Google Maps. Jess joined Polyvore as a product manager in 2008 after providing their co-founder with feedback on issues with the website. She was later named VP of Product, an honorary co-founder, and ultimately
Drake's Whiskey Brand is About to Go Public
Are you the biggest Drake fan in the world? Or, have you never listened to a Drake song in your life? Well, your aptitude with the oeuvre of the Grammy-award winning, platinum selling recording artist really doesn't matter if you like aged bourbon whiskey - or spirits in general - or are just looking to diversify your portfolio with a
Dropbox Has Confidentially Filed For an IPO
File-sharing company Dropbox Inc. has confidentially filed for an initial public offering with the Securities and Exchange Commission, Bloomberg reports. The San Francisco-based company, which was founded in 2007, is valued at $10 billion, according to Bloomberg. JPMorgan Chase and Goldman Sachs will reportedly lead the expected listing. Dropbox's IPO would be closely watched by Wall Street - not only
Report: Facebook's Revamped News Feed Will Cost Mark Zuckerberg Billions
The big news this week in the social media universe (yes, this is a real universe) was Facebook co-founder Mark Zuckerberg announcing that the world's largest social media company would be revamping its news feed algorithms to emphasize content from family and friends instead of media and brands. Zuckerberg announced the change in a blog post, noting that "recently we've
Jeff Bezos and His Wife Donate $33M to U.S. Immigrant Education Program
As the immigration debate rages in America, with the Trump administration this week ordering that nearly 200,000 Salvadorans must leave the U.S. - and then the president declaring that Haiti and Africa are "shithole countries" while in a meeting with lawmakers to discuss immigration reform - Amazon founder Jeff Bezos and his wife Mackenzie have donated $33 million to an
Looking to Start a Blockchain Business? Ripple Founder Chris Larsen Has One Piece of Advice
FinTech
Blockchain enthusiasm is all too common on Wall Street, inspiring hollow or half-baked announcements of new corporate priorities. But maybe your firm’s ambitions go beyond a PR headline. Maybe your professed interest is sincere, but your strategy is lacking. Ripple Co-Founder and Chairman Chris Larsen has been where you are, and the experienced blockchain builder has a tip. Finding A
Beijing Orders Bitcoin Miners to Cease Operations
FinTech
While South Korea raucously cracks down crypto trading, Beijing has quietly ordered the “orderly exit” of the nation’s bitcoin miners, the Wall Street Journal reports. A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities to “guide” the shutdown of operations that produce, or “mine,” cryptocurrencies, according to the notice and people